DRBA sells ferry for $750K

LOWER TOWNSHIP (AP) — The Delaware River & Bay Authority has sold a Cape May-Lewes Ferry that last ran in 2009 for $750,000.

The agency purchased the MV Cape May in 1985 for $14.5 million and remodeled it for $20 million in 1998.

DRBA spokesman Jim Salmon tells The Press of Atlantic City the vessel was appraised at $1.6 million last August.

Salmon says the sale price does not include at least $530,000 worth of equipment and parts that were salvaged to be used on the other four ferries. Salmon says that could increase to $1.65 million if the new owner doesn’t want the propeller shafts and rudders.

Dennis Township-based Northstar plans to convert the ferry into an oceangoing barge.